The True Meaning of Experience in Global Business: Breaking Down the Wall of Time

 

The True Meaning of Experience in Global Business: Breaking Down the Wall of Time

 

In job searching, it's common to come across job postings that require years of experience. As having a relatively short tenure myself, I often hear boasting conversations from others in the industry about having "20 years of experience in global business" or similar statements.

So, does having extensive experience in trade truly translate to a significant advantage in the field? Today, let's explore the answer to this question and examine how those with shorter tenures can overcome the wall of time in the world of trade.

 

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What Does Extensive Experience in Trade Mean?

 

Longevity in a career typically equates to extensive experience. Over time, individuals accumulate various situations and overcome numerous challenges, which become experiences that contribute to their expertise. Looking up the dictionary definition of korean word "Yeon-ryun", it refers to the degree of skill acquired through years of accumulated experience. Therefore, extensive experience, or a long career, "may" indeed serve as a numerical indicator of accumulated expertise.

In fact, such expertise is not limited to the field of global business; it can easily be found in individuals who have consistently pursued their professions over time. Whether it's a craftsman who has honed their skills over many years in their trade or a seasoned entrepreneur who has operated a business for a long time, wisdom gained from life experiences accumulated over many years is evident.

Thus, in the field of global business as well, if one has accumulated extensive experience over time, they naturally develop their own expertise to overcome various situations. As a result, they are more adept at navigating through crises and seizing opportunities compared to those with less experience.

 

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The true meaning and value of global business, and the weaknesses of "time" as perceived through it

 

Understanding the True Meaning and Value of Trade:

Is breaking the wall of time impossible in global business? Can having decades of experience allow one to seize more opportunities and dominate competition?

The answer is a resounding "No."

If this logic held true, companies would only hire seasoned veterans for their dream teams. While it might cost more to hire someone with extensive experience, allocating funds meant for hiring thress entry-level employees towards hiring one seasoned professional could potentially lead to overcoming all competition.

Understanding the true essence of trade reveals why this is not the case. Global business encompasses imports, exports, and the logistics (services) involved, making it a broad concept that includes various trade activities between nations. Given the ever-changing global landscape, global business is inherently dynamic and subject to continuous evolution based on time and circumstances.

 

The Weaknesses Time Holds in Global Business

The wall of time in trade is sturdy but inflexible. Experience often leads to biases and a limited perspective. While experience may help avoid certain risks by drawing from past encounters, it can also lead to missing out on new opportunities due to a biased mindset.

Experience is rooted in the past. It's derived from repeated encounters where patterns are recognized, and solutions are found based on these patterns. However, relying solely on past experiences may not always yield the right solutions, especially in situations where variables are constantly changing.

In global business, experiences can serve as references but often fall short of providing definitive answers. For example, a reliable trading partner suddenly going bankrupt due to international relations changing or failing to pay invoices due to sudden geopolitical shifts are common occurrences. Thus, while experience may provide references, it does not guarantee solutions in new situations.

 

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What Aspiring Traders Truly Need:

 

The reason behind writing this article isn't to undermine experienced global businessmen boasting about their long careers. Those who have upheld the industry for many years have undoubtedly accumulated vast experience, and enduring for such a long time is commendable in itself.

This article is specifically for those who are new to trade and lack experience and tenure. When you meet clients or attend conferences and seminars, I hope you won't feel intimidated by those with long careers. Stand tall; having a shorter career doesn't mean you know less. In fact, your flexible mindset might lead you to discover solutions others haven't thought of.

Above all, remember that while experience may increase with time, the slope of the experience-time graph varies for each individual. Have confidence in your own experiences and don't let the number of years overshadow your capabilities.

 

There's no need to despair at the wall of time. There are many things that numbers cannot show.